Ron Paul was on Bloomberg’s Lunch Money discussing the developing currency wars. Paul states that the currency wars have been ongoing for decades, but they are now gearing up, but that government’s always compete to devalue their fiat currencies.
Paul informs the Bloomberg host that the loss in purchasing power from currency devaluation in a currency war devastates the middle class, and cancels out any slight benefit that you might be getting temporarily in terms of trade.
Paul also states that one day soon people around the world will reject all fiat currencies, and we will move into an age where people want to buy hard assets, and that this has already started with real estate, gold, & silver.
Paul’s full interview on the coming economic collapse is below:
Kass puts on his bear suit.
‘I’m getting the ‘summer of 1987′ feeling in the stock market, which means we’re headed for a sharp fall.’
Global GDP Bomb Explodes: Japan Q4 GDP Disappoints, German, French GDP Contract By More Than Expected, Italian GDP Fell By 0.9%, Eurozone GDP Contracts 0.6% Numbers out of Greece and Portugal Are Also Awful, Futures Slump As Global Q4 GDPs Dump!!!
It started in Japan, where GDP came in at -0.1%, vs expectations of 0.1% growth.
Meanwhile, GDP numbers across Europe are lower as well.
Specifically, Germany saw economic contraction of 0.6%, while France saw contraction of 0.3% in Q4, according to MarketWatch.
Italian GDP fell by 0.9%, also worse than expected.
Eurozone GDP fell 0.6% vs. expectations of a 0.4% decline.
Numbers out of Greece and Portugal are also awful.
The world can expect a full Blown breakout of the so-called Currency Wars  soon enough. Japanese currency – the Yen & the nations monetary policy have become the focus of the global Currency tensions ahead of a meeting of G20 finance ministers and central bankers later this week in Moscow. The statements out of the G7 meet (Finance ministers and central bank governors of the US, Japan, UK, France, Germany, Italy and Canada) were aimed at cooling the Currency Wars tensions; it instead triggered fresh concerns on the same. It seems that a misinterpretation of a statement intended to discourage Currency Wars, undid the entire upside spike seen a day before. A joint statement by the world’s richest nations roiled the markets after an attempt to soothe global Currency  tensions backfired today at the G7 summit. Currency markets  roiled amid conflicting messages on how much of an economic threat is posed by the weakening yen. The G7 nations took the unusual step of issuing a public statement to address rising concerns over a fresh round of global Currency Wars. In their statement on Tuesday, G7 finance chiefs reaffirmed that fiscal and monetary policies would not be directed at devaluing currencies. The yen fell on Wednesday, giving up earlier gains as investors shrugged off comments by a Group of Seven official the previous day, citing concerns about the yen’s excessive weakness. UK said the group wasn’t singling out an individual country or exchange rate. The Yen leapt & the US Dollar promptly gave back its earlier gains in volatile trade after a G7 official later said the G7 statement was in fact meant to signal worries about excessive moves in the yen, as told to Reuters in Washington. “The world wants a clear, coherent message from the leaders of the developed world,” said Mike Moran, senior currency strategist at Standard Chartered Plc in New York. “The G-20 is now going to be the key focus. Clearly the onus is on Japan.” “The world’s in turmoil with regard to currencies and it doesn’t really take a lot, in terms of a bad word here or there, to spark volatility,” Peter Dixon global financial economist at Commerzbank said. Analysts were also concerned about an apparent lack of consensus at the G7 level in tackling the risks of competitive currency devaluations as countries try to spur growth through expansionary domestic monetary policies. A concern illustrated when the Bank of England governor Mervyn King publicly criticized the anonymous G7 official. “When I put my name to that (G7) statement yesterday, I didn’t expect that other so-called officials will be out there giving un-attributable briefings,…trying to claim that the statement said what it didn’t say,” King said.
February 11th, 2013
In 1139 A.D. the Catholic Saint Malachy was said to have experienced visions during a trip to Rome. He subsequently put these visions to paper and penned a document containing 112 short phrases purporting to describe all future popes that would head the Catholic Church. Though not a part of official Catholic dogma or church teachings, this Prophecy of the Popes is well known by Vatican officials and church scholars because it has been remarkably accurate about naming the last 111 heads of one of the world’s oldest and most widespread religions.
According to researchers, theologians and evangelical scholars, the phrases Malachy scribed in his writings offer up the “nature, name, destiny or coat of arms” of every pope in succession and culminate with the naming of the 112th pope.
This morning, Pope Benedict XVI announced he would be retiring. Jokingly referred to as “God’s Rottweiler” in some circles, the German born 111th Pontiff as described in Malachy’s prophecy is called the Gloria Olivae, or ”glory of the olive,” which some supporters of the prophecy suggest is a reference to the Benedictine Order of monks from whom Benedict got his namesake. The monks are also known as the Olivetans, and are represented by an olive branch, leaving many to believe that Saint Malachy was, once again, right.
Now, according to prophecy, the 112th Pope will step up to head the Church, and he will be named Petrus Romanus, or Peter the Roman.
Whether you’re Catholic, Christian or not a religious person at all, the fact that a 900 year old prophecy is coming to a close is intriguing. And one way or the other, whether its predictions turn out to be true or not, the prophecy concludes with the next Pope.